Chinmaya IAS Academy – Current Affairs Chinmaya IAS Academy – Current Affairs
Related Articles
India and the United Kingdom have a long history of trade relations. The trade between the two countries encompasses a wide range of sectors, including goods, services, and investments. Here are some key points regarding India-UK trade:
Bilateral Trade: India and the UK have been important trading partners. In recent years, bilateral trade has been steadily increasing.
Goods Trade: The trade in goods between India and the UK consists of various products, including automobiles, pharmaceuticals, textiles, machinery, chemicals, and gems and jewelry. Both countries have been working on enhancing trade cooperation in these sectors.
Services Trade: Services trade plays a significant role in the India-UK economic relationship. The UK is a major destination for Indian service exports, particularly in sectors such as information technology, business process outsourcing, software development, and professional services.
Investment: India and the UK have substantial investment ties. Indian companies have made significant investments in the UK, particularly in sectors such as IT, pharmaceuticals, energy, and automobiles. On the other hand, British companies have also invested in various sectors in India, including financial services, manufacturing, and retail.
Bilateral Agreements: India and the UK have signed several bilateral agreements to promote trade and investment. These agreements cover areas such as trade facilitation, intellectual property rights, double taxation avoidance, and cooperation in sectors like energy, healthcare, and education.
Mainly after a POI become the UK’s PM the relationship between two nations getting closer.
